What more Willis must do to fix banking competition

RBNZ acting governor Christian Hawkesby's select committee appearance this week was "deeply concerning", says Andrew Body. (Image: NZME)

Andrew Body

Wed, 02 Apr 2025

In my darkest moments, I fear that the banking inquiry will achieve little and that a material growth opportunity will be lost.Sometimes, it feels like New Zealand has not moved beyond the bad old days of licensing regimes, economic controls, and doors closed to the world that made a small number of NZers fabulously wealthy.In those dark moments, I worry that these industry characteristics undermine NZers’ commitment to capitalism and markets and that we will be propelled down the rabbit hole to become another Fiji. Indeed, I...

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